Credit Card Consolidation Loan Singapore
Card balance transfer declined? Apply for a credit card consolidation loan of up to 6× your monthly income, with 30-minute approval and same-day cash.* No guarantor required. *Subject to eligibility, assessment and approval at QuickLoan.
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A different way to repay your cards
Credit Card Balance Transfer Declined?
A personal loan to pay off credit cards is the alternative. QuickLoan assesses your card balances, income and commitments before deciding whether to offer a loan.
Card Balances Barely Moving?
You pay each month, but interest leaves you making less progress than you expected.
Several Card Bills to Track?
Different statement dates and payment amounts make planning your monthly budget more complicated.
Need a Clear Repayment Schedule?
You want to know the instalment amounts, payment dates and total cost before replacing your card balances with a loan.
From card balances to scheduled repayments
How Does a Credit Card Consolidation Loan Work?
A personal loan provides funds to pay off outstanding credit card balances. You then repay the new loan through agreed instalments. This is a separate loan, not a bank balance transfer.
Check Your Card Balances
Ask each card issuer for the amount needed to clear your balance, including accrued interest and pending charges.
Compare Your Loan Offer
Check the net cash available to clear your cards, along with the interest, fees, instalments and total repayment.
Clear Cards & Repay the Loan
If approved and you accept, use the funds to settle your card balances. Check that the payments have been credited and follow your new repayment schedule.
After using the loan to pay off your credit cards, avoid adding new charges that you cannot repay in full. Keeping your card spending under control helps you focus on repaying the loan without building up fresh debt.
More than the numbers
Let’s Work Through Your Repayments Together
Choosing a credit card consolidation loan is a big decision. At QuickLoan, we take time to understand your card balances, income and everyday expenses before assessing whether a loan could fit your situation.
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Tell Us What’s Difficult
A declined bank balance transfer or several card bills to organise? Talk us through what you need.
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We Look Beyond Salary
We consider your card repayments, other commitments and everyday expenses alongside your income.
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Responsible Borrowing
We help you consider the costs and commitments, so you can make an informed borrowing decision.
Before you apply
Minimum Criteria for a Credit Card Consolidation Loan
Check QuickLoan’s minimum age and salary requirements before applying to consolidate your credit card balances.
Minimum Age
18 years old and above.
Minimum Monthly Salary
S$1,800 for Singapore Citizens, PRs and foreigners.
Meeting the minimum criteria does not guarantee approval. Your card balances, other debts, income and ability to repay are assessed before a loan offer is made. A declined bank balance transfer does not guarantee eligibility.
Your borrowing limit
How Much Can You Borrow to Clear Credit Card Balances?
Qualifying borrowers may borrow up to 6× their monthly income. Your approved amount depends on existing borrowing, card balances and your ability to meet the new repayments.
Swipe to view the full table.
| Monthly income (approx.) | Singapore Citizens & PRs | Foreigners residing in Singapore |
|---|---|---|
| Below S$834 | Up to S$3,000 | Up to S$500 |
| S$834 to below S$1,667 | Up to S$3,000 | Up to S$3,000 |
| S$1,667 and above | Up to 6× monthly income | Up to 6× monthly income |
It applies across all licensed moneylenders combined. Existing unsecured moneylender loans reduce your remaining borrowing capacity. QuickLoan also assesses your card balances and other commitments, and may approve less than you apply for.
Regulatory income bands are below S$10,000 annually, S$10,000 to below S$20,000, and S$20,000 or more. These limits are separate from QuickLoan’s minimum monthly salary requirement of S$1,800. Your approved amount and net funds received may not cover all your credit card balances.
Credit Card Consolidation Loan Interest & Fees
Check the cash available to clear your cards and the total repayment before accepting a loan. The figures below are regulatory maximums, not your personalised offer.
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4%
Maximum monthly interest
Charged on the outstanding principal, which reduces as you repay principal.
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10%
Maximum loan approval fee
Of the loan principal when granted. An upfront deduction reduces the cash available to clear your cards.
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S$60
Maximum monthly late fee
May apply for each month of late repayment.
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4%
Maximum monthly late interest
Applies only to amounts overdue, not instalments that are not yet due.
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100%
Combined interest and fee cap
Interest, late interest, approval fees and late fees combined cannot exceed the loan principal.
Before accepting a loan to clear your credit cards, compare its total interest and fees with what you would pay by repaying your cards directly.
Actual interest, fees and repayment terms will be explained before you sign.
How to Apply for a Credit Card Consolidation Loan
Start online, then review your assessed loan amount, interest rate and repayments in person before deciding.
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Start Your Application Online
Submit your details and the amount you need to clear your credit card balances. Use Singpass to save time filling in personal information.
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Visit & Review Your Offer
Bring your documents for verification and assessment. If approved, check the net cash available to pay your cards, actual rate, fees and repayment schedule before signing.
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Receive Funds & Pay Your Cards
After approval and loan completion, receive your funds and pay your card issuers. Confirm the payments have cleared and check for any remaining balances.
Online submission starts the application. Identity verification and loan completion take place at our International Plaza office. Approval and funding timing depend on assessment and complete documents.
Documents for Your Credit Card Consolidation Loan
Have your identity, income and address documents ready to help avoid delays during assessment.
- NRIC
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Singpass Use Myinfo to prefill available personal details.
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If renting, provide both:
- Tenancy agreement
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Proof of address Phone bill or utility bill.
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Recent payslips Last three months, if available.
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Bank token For your own access during income verification. Never share passwords or one-time codes.
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S Pass / Employment Pass At least six months’ validity remaining.
- Passport
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Proof of residence — provide both:
- Tenancy agreement
- Phone bill or utility bill
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Recent payslips Last three months, if available.
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Bank token For your own access during income verification. Never share passwords or one-time codes.
- Employment contract
- Staff card
Additional documents may be requested during assessment. Bringing documents does not guarantee approval.
Comparing Credit Card Consolidation Lenders in Singapore?
If a bank balance transfer isn’t available to you, QuickLoan offers credit card consolidation loans, subject to assessment—with clear terms before you commit.
Get an Answer Quickly
Approval in as little as 30 minutes, subject to complete documents, verification and assessment.
Pay Your Card Balances Sooner
Same-day funds may be available to pay your card issuers after approval and in-person loan completion.
A Licensed Money Lender
Review your assessed loan amount, interest, fees and repayment schedule before signing.
Credit Card Consolidation Loan FAQs
How is a credit card consolidation loan different from a balance transfer?
A bank balance transfer moves eligible outstanding balances into a bank facility under its transfer terms. QuickLoan instead offers a separate personal loan that you can use to pay your card issuers.
Compare interest, fees, repayment dates and total cost. QuickLoan’s loan is not a bank balance transfer or a promotional 0% interest offer.
Can I apply if my bank balance transfer was declined?
Yes. QuickLoan can assess an application for a personal loan to pay off credit card balances. A bank’s decision does not determine the outcome of your application with us.
Approval depends on your income, card balances, other commitments and ability to repay. A declined balance transfer does not guarantee a loan offer.
Can I pay off more than one credit card with the loan?
Yes, the funds can be used towards balances on more than one credit card. Check the amount needed to clear each card and compare the combined amount with the net funds you would receive.
You remain responsible for paying each card issuer and checking whether any interest or pending charges remain.
Does QuickLoan consolidate personal loans or moneylender debts?
This offering is for credit card consolidation. QuickLoan does not offer general consolidation of personal loans or debts from other moneylenders.
Any existing loans must still be disclosed because they affect assessment of your commitments and ability to repay.
Can foreigners apply for a credit card consolidation loan?
Yes. QuickLoan’s minimum criteria are age 18 and a monthly salary of S$1,800 for Singapore Citizens, PRs and foreigners. Foreign applicants should refer to the documents section for pass-validity and supporting-document requirements.
Meeting the minimum criteria does not guarantee approval. Your card balances, income and other commitments will also be assessed.
Will this reduce my credit card interest or monthly payments?
Not necessarily. The assessed loan rate, fees and repayment period determine whether the new loan would cost less than your current card repayments.
Compare the full cost before signing. A smaller monthly instalment does not automatically mean lower total repayment, and savings are not guaranteed.
What if the approved amount cannot clear all my cards?
Any unpaid card balances remain your responsibility and may continue to attract interest and charges. Allow for those payments alongside the new loan instalments.
Before accepting, check whether the net cash received is enough for your intended purpose and whether the combined repayments fit your budget.
Does a declined balance transfer mean my credit history will be accepted?
No. QuickLoan makes its own assessment. A bank rejection does not mean credit-history or repayment concerns will be overlooked.
Disclose outstanding debts and any missed payments accurately. Your ability to meet the proposed repayments is an important part of the assessment.
How quickly can I receive a credit card consolidation loan?
Approval may be possible in as little as 30 minutes, with same-day funds after approval and loan completion. Timing depends on complete documents, verification and assessment.
Start your application online, then complete identity verification and the loan process in person at QuickLoan’s International Plaza office.
Do I need collateral or a guarantor?
QuickLoan’s credit card consolidation loan does not require collateral or a guarantor. Your application remains subject to eligibility, assessment and approval.
Can I keep using my credit cards after paying them off?
Card availability depends on your card issuer’s terms and account status. Paying off a balance does not automatically close the account.
New spending could leave you with fresh card bills alongside your loan repayments. Consider limiting card use and reviewing your spending budget.
Can I repay the consolidation loan early?
Contact QuickLoan for a settlement figure for your intended payment date. Check the applicable contract terms and amount before paying.
Keep the receipt and obtain confirmation that the loan has been fully repaid.
What if I have difficulty making a repayment?
Contact QuickLoan as soon as you expect difficulty, ideally before the payment is due, to discuss your situation. Any revised arrangement must be agreed with the lender.
Late fees and late interest may apply under your contract. Taking another loan is not necessarily a solution to an ongoing repayment shortfall.
Visit QuickLoan at International Plaza
Talk through your existing debts and repayment commitments with our team. Find us near Tanjong Pagar MRT Exit C.
QuickLoan Pte Ltd
10 Anson Road, #01-15International Plaza
Singapore 079903
- By MRT
- Alight at Tanjong Pagar MRT and take Exit C towards International Plaza.
- Opening Hours
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Monday–Friday: 11 am–8 pm
Saturday: 12 pm–5 pm
Closed Sundays and public holidays. - Before Your Visit
- Have your application documents and recent debt statements handy to help us understand your situation.